Financing for General Long-Distance Freight Trucking

Looking for loans for general long-distance freight trucking? An SBA loan may be just what you've been looking for. This $60,500 general long-distance freight trucking loan was issued by an Iowa bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Fontanelle, Iowa was able to borrow $60,500 from Exchange State Bank. The SBA made the loan possible by guaranteeing $51,425 of this Iowa small business loan.

SBA Loan Borrower

COMPANY TYPE: GENERAL LONG-DISTANCE FREIGHT TRUCKING
FONTANELLE, IA 50846

SBA Loan Lender

EXCHANGE STATE BANK
322 AUDUBON ST
ADAIR, IA 50002

This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with borrowing money. The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

484121 - General Long-Distance Freight Trucking

Loan Approval Date

2/2/2004

Loan Approval Gross Amount

$60,500

Loan Approval from the SBA

Of the total $60,500 loan amount, the SBA guaranteed $51,425.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The loan application did not indicate that the small business planned to use the money to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

Related Links:

Obtaining Funding - How to Borrow Money

Small Business Banks in Adair, Iowa

Iowa SBA 7A Banks